The Bay Area is the Least Affordable Area in the State: Report

Published February 16, 2018•Updated on March 19, 2018 at 3:35 pm

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Five out of nine counties in the San Francisco Bay Area experienced a decline in affordability in 2017. San Francisco, San Mateo and Santa Clara counties are the least affordable areas in the state, according to a report from the California Association of Realtors.

Only 12 percent of San Francisco residents can afford to purchase a median home priced at $1.5 million while 14 percent can afford San Mateo’s median home price of $1.5 million and 15 percent afford a home in Santa Clara at $1.2 million, according to the report.

The California Association of Realtors reported that as a state, California has a median single-family home price of $550,990. Making the Bay Area significantly more expensive than other areas in California.